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Daimler’s 4Q Earnings Jump 77%
Daimler AG says its net profit in the fourth quarter of 2015 surged to €2.1 billion from €1.2 billion a year earlier.
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Daimler AG says its net profit in the fourth quarter of 2015 surged to €2.1 billion from €1.2 billion a year earlier.
New models helped boost unit sales 9% to 776,600 vehicles for the period. Revenue climbed 13% to €40.4 billion ($45.1 billion). Earnings before interest and taxes on continuing operations rose 22% to €3.5 billion ($3.9 billion).
For the full year, Daimler reports its unit sales climbed 12% to a record 2.85 million vehicles. Revenue expanded 15% to €149.5 billion ($166.9 billion). Net profit grew 23% to €8.9 billion ($10 billion). EBIT from continuing business jumped 36% to a record €13.8 billion ($15.4 billion).
Division-level EBIT from ongoing operations in 2015 advanced 40% for Mercedes-Benz Cars, 32% for Daimler Trucks, 46% for Mercedes-Benz Vans and 17% for Financial Services. EBIT slid 4% for the company’s bus operations.
Daimler predicts “slight” improvements in revenue and EBIT in 2016 as growth in unit sales slows. The company anticipates Asia and western Europe will deliver its biggest gains this year.
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